Canada's Toromont Q1 revenue rises, beats estimates

Toromont Industries

28/04/2026 23:27

Overview

Canada Caterpillar dealer's Q1 revenue rose 13% yr/yr, beating analyst expectations

Q1 basic EPS rose 24% to C$1.14; net earnings up 25% yr/yr

Company increased AVL ownership to 80% with C$71 mln share purchase

Outlook

Company says backlog remains healthy, supporting future deliveries and revenue

Toromont continues to consider investment opportunities in Power and Energy businesses

Company says strong balance sheet and operating disciplines position it well for future growth

Result Drivers

EQUIPMENT GROUP GROWTH - Higher new and used equipment sales, rentals, and product support drove revenue gains in Equipment Group

AVL ENCLOSURE BUSINESS - AVL's expanded operational capacity and execution led to a sharp increase in revenue and EPS contribution

HIGHER GROSS MARGINS - Improved gross profit margins, particularly in the Equipment Group, supported operating income growth

Company press release: ID:nCNW5QgBxa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$1.23 bln
C$1.16 bln (6 Analysts)
Q1 EPS
C$1.14
Q1 Net Income
C$92.70 mln
Q1 Operating Income
C$143 mln
Q1 Operating Margin
11.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

Wall Street's median 12-month price target for Toromont Industries Ltd is C$214.00, about 1.4% above its April 27 closing price of C$210.98

The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)